5(1)Omit—U.K.
(a)section 462(3) and (4) (tax exempt business: insurances made in 1984-85), and
(b)section 462A (election relating to profits attributable to pre-1991 contracts expressed not to be part of tax exempt business).
(2)In section 462(1), for “subsections (2) to (4)” substitute “ subsection (2) ”.
(3)In consequence of sub-paragraph (1), omit—
(a)paragraph 2 of Schedule 9 to FA 1991,
(b)paragraph 9 of Schedule 9 to F(No.2)A 1992, and
(c)section 45(4) and (5) of FA 2007.